Which of the following statements is true? a. Governmental and nonprofit organizations never operate with a profit

Question:

Which of the following statements is true?

a. Governmental and nonprofit organizations never operate with a profit motive.

b. Businesses have scarce resources that must be allocated to different uses; governments and nonprofits are able to command sufficient resources to avoid the need for such allocations.

c. Typically, governmental and nonprofit organizations have more restricted resources than do business entities.

d. Nonprofit organizations never use fund accounting.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Governmental And Nonprofit Accounting Theory And Practice

ISBN: 9780132552721

9th Edition

Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,

See More Books

Question Posted: Feb 24, 2024 05:00 AM

See More Questions

Multiple Choice Questions Identify the best answer for each of the following: 1. The body with primary accounting standards-setting authority for state and local governments is the a. American...
Identify the best answer for each of the following: 1. The body with primary accounting standards-setting authority for state and local governments is the a. American Institute of Certified Public...
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
One of Red Clay's employee handbook sections covers employee monitoring. An employee filed a complaint with the HR department stating he opposes this monitoring and chooses to opt out. What legal...
The following transactions occurred during April 2015 in Sion, Inc.'s operations: 1. Salaries Expense for the month of April was $4,600. Sion made a monthly payment to employees on the fifteenth of...
Fertilization ________. a. Unites the nuclei of a sperm and egg cell b. Forms a zygote that has chromosomes of both parents c. Usually occurs in an oviduct d. All of the above e. A and b but not c
Describe why healthcare decisions can change as circumstances change.
Which of the following phenomena would be either consistent with or a violation of the efficient market hypothesis? Explain briefly. a. Nearly half of all professionally managed mutual funds are able...
Two soccer players kick a soccer ball back and forth along a straight line. The first player kicks the ball 15 m to the right to the second player. The second player kicks the ball to the left...
Hatcher Township prepares its annual General Fund budget on the cash basis and maintains its accounting records on the cash basis during the year. At the end of Hatcher Townships 20X9 calendar year,...
Organizations that are considered to be nonprofit include such organizations as a. churches. b. the Boy Scouts and Girl Scouts. c. church-supported hospitals. d. state CPA societies. e. all of the...
We say that copper can contain up to 40% Zn or 9% Al and still be single phase. How do we explain this statement in view of the phase diagram for the Cu-Zn system? Temperature (C) 1100 1000 900 800...
We want to price options using the binomial lattice. The current stock price is 54 and the strike price is 50. Assume that the stock up-trend rate is u = 1.2 with probability p = 0.4 and the...
Identify the key roles and responsibilities of team members implementing the financial management approach and/or making financial decisions. Consider responsibilities for purchasing, invoicing,...
3. (5 points) Based on the inflation rate given, compute the amount of money that Jimmy and Jane expect they will need to live on during their first year of retirement in 35 years.
Q5. What are the potential tax Implications when an investor decides to automatically reinvest fund distributions into additional non-registered fund units?
A moon orbits a planet at 8 2 0 4 m / s once every 1 6 . 8 9 days. What is the orbital radius
Why are ratios and trends used in financial analysis?
Complete the following acid-base reactions: (a) HCCH + NaH
Red Corporation and White Corporation, both calendar year C corporations, are members of a controlled group of corporations. For the current year, Red has taxable income of $130,000, and White has...
In the current year, Pelican, Inc., incurs $10,000 of meals and entertainment expenses that it deducts in computing net income per the corporations financial statements. All of the meals and...
In the current year, Juanita and Joseph form a two-member LLC and do not file Form 8832 (Entity Classification Election). As a result, the LLC will be treated as a partnership for Federal tax...
What might have caused the changes in supply and demand outlined? Outline the various reasons (i) why demand might decrease in this manner and also (ii) why supply might increase this way....
! Required information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct...
Apply Rostow's Linear Growth Theory to economic growth in your country. According to this theory, at what stage of growth in South Africa? Substantiate the answer. Apply each growth stage to South...

Which of the following statements is true? a. Governmental and nonprofit organizations never operate with a profit

Question:

Step by Step Answer:

c Typically governmental and nonprofit organizations have mo...View the full answer

Governmental And Nonprofit Accounting Theory And Practice

Students also viewed these Business questions